New Innovations in Contrast Media Bring to Light Growing Opportunities For Manufacturers
MOUNTAIN VIEW, Calif., May 11 /PRNewswire/ -- To better diagnose vascular, liver and gastrointestinal disorders, radiologists use contrast media to better distinguish specified organs and tissues over others. Recent innovations and imminent product expansion give this market a healthy outlook.
World Contrast Media Markets, strategic research by Frost & Sullivan (www.frost.com), divides contrast media markets by the corresponding imaging modalities. In addition to detailed discussions of the new upcoming agents for the X-ray and CT, MRI, and ultrasound markets, the study provides competitive analysis and revenue forecast by geographic region.
The study estimates that the world contrast media market generated revenues of $3.9 billion in 1997 and will exhibit a compound annual growth rate of 6.4 percent, reaching revenues of $6.0 billion by 2004.
''Competition in the world contrast agent market is extremely intense and the major participants in the market are anticipating increased competition as new products and advanced technologies are launched,'' said Smita Thakur, medical analyst at Frost & Sullivan.
The segment expected to exhibit the most rapid growth is ultrasound contrast media, which the study predicts to have a compound annual growth rate of 43.2 percent over the forecast period. This high level of growth will be result of an onslaught of new contrast agents being introduced in the near future. With the development of organ-specific ultrasound contrast agents, this market is estimated to sustain its strong growth rate beyond 2004.
The world X-ray and CT contrast media market generated the vast majority of the world contrast media market revenues at an overwhelming $3.4 billion. While not as technologically novel as newer products, this market should maintain positive growth for several reasons. With a couple of the leading non-ionic contrast agents going off patent, purchasers will have generic alternatives to its current options. Decreases in price will actually work to the advantage of X-ray and CT contrast markets as diagnostic costs rise for other modalities and reduced hospital budgets make this proven technology more attractive.
MRI contrast agents will also see steady growth due to its versatility. While X-ray and CT contrast agents are developed with GI indications, their clinical applications are very specific. Similarly, most new ultrasound contrast agents are specifically developed for blood perfusion and currently they have little to offer as far as imaging other organs. The wide variety of organ-specific MRI contrast agents gives MRI a competitive edge over other imaging techniques.
''The market size for liver-spleen agents alone is huge, generating interest with several key players to develop their own products,'' explained Thakur. ''However, gastrointestinal, blood perfusion, vascular and possibly lymphatic imaging seem to be growing into impressive markets in their own right.''
Key participants in this market include Advanced Magnetics, Abbott Laboratories [NYSE:ABT - news], Berlex Laboratories, Bracco Spa, Cook Incorporated, Daiichi Pharmaceutical Co., Eiken Chemical Co., Eisai Co., E-Z-EM, Guerbet SA, Lafayette Pharmaceuticals, Mallinckrodt Medical, Molecular Biosystems (MBI), Nycomed Amersham plc, Schering AG, and Yamanouchi Pharmaceutical Co. Companies with products under development include Alliance Pharmaceutical Corporation [Nasdaq:ALLP - news], Sonus Pharmaceuticals, EPIX Medical, and ImaRx Pharmaceutical Corporation.
Companies related to this market include Acoustic Imaging Technologies Corporation, Acuson Corporation [NYSE:ACN - news], ADAC Laboratories, Advanced Magnetics, Advanced Technology Laboratories (ATL), Advantage Medical, Aesculap AG & Co, Aesculap, Alcon Laboratories, Allegiance Healthcare, V Mueller, Aloka Company, Applied SuperConetics, Aspect Medical Systems, Astro-Med, Ausonics Pty Ltd, Axon Systems, Bio-Logic Systems Corporation [Nasdaq:BLSC - news], Biomagnetic Technologies, Bio- Research Associates, Biosensor Corporation [OTC BB:BSNR - news], Biosound, Bosch & Lomb Surgical Storz Products, Boston Scientific Corporation [NYSE:BSX - news], BrainLab USA, Bristol-Myers Squibb Company [NYSE:BMY - news], Bruel & Kjar Medical Instruments (B&K), Cadwell Laboratories, Caprius, Cardiometrics, CardioVascular Dynamics (CVD), Carl Zeiss, Carolina Medical, Chalgren Enterprises, Clarus Medical Systems, Clinical NeuroSystems, Cone Instruments, Cordis Corporation, Corometrics Medical Systems, CSIRO, CSL Diagnostics, CTI PET Systems, DA-TECH Corporation, Diagnostic Ultrasound Corporation, Diasonics-Sonotron, Diasonics VingMed Ultrasound, Digirad, Digital Scintigraphics Incorporated, Digitrace Care Services, Dynamic Engineering Corporation, Elbit, The Electrode Store, Elekta Instruments, Elscint, Endosonics Corporation [Nasdaq:ESON - news], Esaote Biomedica, Excel Tech Limited, FONAR Corporation, Fukuda Denshi Co., Grass Instruments, Harrison Medical Corporation, Health South Diagnostics, Hewlett-Packard Medical Products Group, Heyer Schulte Neurocare, Hitachi Medical Systems America, Hoffrel Instruments, Humphrey Systems, HZI Research Center, *** Intermagnetics General Corporation [AMEX:IMG - news] ***, Johnson & Johnson Professional Incorporated, Kontron Instruments SA, Kretztechnik Gesellschaft, La Mont Medical, Leibinger L.P., Lexicor Medical Technology, Linscan Systems, Magnex Corporation, Medical Advances, Medical Equipment Specialists, Medison Company, Medrad, Medtronic Dantec Medical Incorporated, Medtronic, Medtronic Micro Interventional Systems, Medtronic PS Medical, Mennen Medical Corporation, Mentor Corporation [Nasdaq:MNTR - news], Mentor Ophthalmic Corporation, Micro Therapeutics, Mitsubishi International Corporation, Mizuho America, Mr. Diagnostic Technologies, MRI Devices Corporation, Multigon Industries Incorporated, Network Concepts, NeuroCare Group, Neuromag, Ltd, Neuro Supplies, Nicolet Biomedical Instruments, Nidek Company, Nihon Kohden, Nomos Corporation, Ohio Medical Instrument Surgical Products, Optiscan Pty Ltd, Oxford Instruments, Perception, Philips Medical Systems, Phoenix Biomedical Corporation, Picker International, Pie Medical Equipment BV, Positron Corporation [OTC BB:POSI - news], Princeton Medical Corporation, Radionics, Sanabe Seiyaku Co., Sanofi Pharmaceuticals, SCIMED Life Systems, Sharplan Lasers, Shimadzu Corporation, Shionogi & Co., Siemens AG, SMV America, Sofamor Danek Group, Sonomed, Sumitomo Electric USA, Synectics-Dantec, Target Therapeutics, Teca Corporation, Telediagnostic Systems, Telefactor Corporation, Thermo Electron Corporation [NYSE:TMO - news], Tomey Corporation, Toshiba America Medical Systems, Valleylab, Vickers, Zeppelin Chirurgische Instrumente GmbH, General Electric (GE) Medical Systems, Hitachi Medical Corporation, Medison Company, Siemens Medical Systems, Toshiba Corporation, Bracco Diagnostics, Elscint, General Electric (GE) Medical Systems, Health Images, Mitsubishi Electronics America, Philips Medical Systems North America, Shimadzu Medical Systems, Siemens Medical Systems, and Toshiba America MRI Inc.
This medical industry research has integrated the proven Frost & Sullivan Market Engineering consulting philosophy into the entire research process. Critical phases of this research included: identification of industry challenges, market engineering measurements, strategic recommendations, planning and market monitoring. All of the vital elements of this system help the market participants navigate successfully through the contrast media markets.
Frost & Sullivan is an international marketing consulting company that monitors the medical industry for market trends, market measurements, and strategies. The ongoing research is utilized to update a series of research publications such as #5493-50, World Medical Diagnostic Ultrasound Imaging Equipment Markets, and to support industry participants with customized consulting needs. Free executive summaries of all Frost & Sullivan reports are available to the press.
Report: 5496-50 Publication Date: May 1998 Price: $3950
For more information in the United States, please contact:
Keith Hammond
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SOURCE: Frost & Sullivan
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